Hybrid home loan mortgages -

Trying to fill void left with downside of fixed and adjustable/variable-rate home loans, hybrid home loan lets you fix interest rate over first part of home loan, and then switch to an adjustable/variable rate later. The upside of hybrid home loans is that they allow you to budget for your repayments during expensive time when you first buy home. The downside is that if floating rates are much higher than your fixed rate when switch happens, you could find you are paying a much higher repayment each month.

To see our list of recommended mortgage lenders with competitive rates for refinance, purchase loans, second mortgages, home equity loans and all other mortgage loans, visit this page Recommended Mortgage Lenders

Most lending institutions will not want to pull your credit report initially, until they are sure you are serious about getting approved. It costs lender money to pull your credit, so it is in their best interest to wait until they know you are serious before they pull your credit report. So, make sure when you apply for a mortgage loan, that your credit is not being pulled with your initial application. When applying for a mortgage loan online, here are some ways to know that your credit is most likely not being pulled.

1. Did they ask you to describe your credit? If they asked you to describe your credit, that is because they are probably not going to pull your credit initially.

2. Did they ask for your social security number? If they don’t have your social security number, they can’t pull your credit.

3. Search their website to see if they tell you whether or not they will pull your credit report initially. It may be listed under their frequently asked questions.

To view our list of recommended lenders who do purchase financing or refinancing for people with bad credit or less than perfect credit, visit this page: Bad Credit Mortgage and Home Loan Lenders.